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CEE 498 - HW6 - CEE 498 Fall 2004 HW 6 1 Classify and state...

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CEE 498 Fall, 2004 HW 6 1. Classify and state possible control solutions for the following risks. Make sure, to classify the risks as known, known-unknown, or unknown-unknown, also classify them by source. 1) Cinder cone volcano forms in the middle of the jobsite Risk Classification: Unknown – Unknown Source Classification: Technological Problems Control Solutions: Risk Avoidance – not within contractor’s control 2) Owner declares bankruptcy Risk Classification: Known – Unknown Source Classification: Socioeconomic Control Solutions: Insurance – all losses are insured Risk Acceptance with Contingency – protects all assets 3) Jobsite is in the middle of a swamp Risk Classification: Known Source Classification: Technological Problems Control Solutions: Risk Reduction – look for another job with less risk Risk Acceptance with Contingency – account for loss in bidding Contingency Planning – plan ahead for problems 4) Kids steel ail lumber from jobsite Risk Classification: Known Source Classification: Socioeconomic Control Solutions:
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